Perseus

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Joined Toronto, Canada
"Easy to dream a dream, though it’s harder to live it." - Wale
Markets Allocation
9 % stocks 2 % cryptocurrency 2 % indices 87 % other
Top Mentioned Symbols
FX_IDC:XAUUSD 27% | 15 FX:XAUUSD 20% | 11 USOIL 12% | 7 DXY 7% | 4
Perseus Perseus XAUUSD, W, Long ,
XAUUSD: Gold long continued
1096 16 14
XAUUSD, W Long
Gold long continued

Looks like gold wants to correct a bit from the fresh high we just made for 2017. This could possibly tag the 1230/40 area before continuing upwards for a clear break of the 6-year trend-line, which is still giving us some problems. Gold has a lot going for it, as the dollar continues to make lower lows (made a new 2017 low this week), while continuing to make ...

Perseus Perseus XAUUSD, M,
XAUUSD: Gold and the misconception regarding rate hikes.
2357 0 20
XAUUSD, M
Gold and the misconception regarding rate hikes.

There seems to be a strong misconception regarding the Fed Fund Rate, and it's effect on the DXY and XAUUSD. As you can see above, XAUUSD rallied over 100% when the Fed Fund Rate was raised from 1% in 2003 to 5% in 2006 (this wasn't direct, there were numerous rate hikes in between, just for the simplicity of the chart I've only added a few). When the Fed Fund ...

Perseus Perseus TNX, W, Short ,
TNX: 10Y - Long-term Idea
889 0 8
TNX, W Short
10Y - Long-term Idea

RSI making lower highs, yield making lower lows.

Perseus Perseus XAUUSD, W, Long ,
XAUUSD: Update on Gold
730 2 13
XAUUSD, W Long
Update on Gold

I'm still long on gold, adding to my position with the most recent dip. RSI has failed to break down below the mid 40 level two times already (a failed attempt now would be the third). As I mentioned in my last post on gold, I saw a potential drop to the 1230-1240 area, which we got (I commented to a TV'er that I thought 1250 might be an updated bottom, was too ...

Perseus Perseus BTCUSD, W, Short ,
BTCUSD: Bear-divergence on BTC
801 0 10
BTCUSD, W Short
Bear-divergence on BTC

Bear Div, looking for a tag of the 50EMA at the 1200-1300 area. Simple set-up.

Perseus Perseus XAUUSD, M, Long ,
XAUUSD: Gold Long - LT
615 8 12
XAUUSD, M Long
Gold Long - LT

Gold is looking to break the 2011 downward trend line. If you look at the RSI, you can see that gold has been in consolidation since early 2013. I truly believe we will break the trend this year, with fundamentals supporting this move. We may not initially break the trend this month, however the only downside risk I see is to the 1230-1240 area (my thin ...

Perseus Perseus DXY, M, Short ,
DXY: DXY Short
1052 0 11
DXY, M Short
DXY Short

Short DXY, long XAUUSD. Although there may be small dips in XAUUSD, and bumps in the DXY, I'd much rather be caught long in XAUUSD, rather than caught short. This is supported by both fundamentals and strong bear divergence spanning over years. This is not a scalp trade.

Perseus Perseus DXY, D, Short ,
DXY: DXY H&S
1607 0 9
DXY, D Short
DXY H&S

Simple H&S on the 1D chart, RSI failing to gain any ground. Let's see if this one plays out.

Perseus Perseus XAUUSD, D, Long ,
XAUUSD: 3 Cups - Gold Bullish
2066 0 12
XAUUSD, D Long
3 Cups - Gold Bullish

There's about a roughly, umm, 0% chance they raise rates in March. Nice try grandma.

Perseus Perseus XCUUSD, D, Long ,
XCUUSD: Copper - Pullback and Relong
587 0 8
XCUUSD, D Long
Copper - Pullback and Relong

If copper doesn't make a new high today (which I don't believe it will), we will likely see a retest of the 2.72-2.74 area (top of the channel). I'm itching to relong from this area.

Perseus Perseus XAUUSD, W, Long ,
XAUUSD: Gold - 1220 Support
541 0 6
XAUUSD, W Long
Gold - 1220 Support

We have had 2 strong bounces off the 1220 area, with both bounces hitting above 1230. It must be noted that the level we got rejected at (1240), is the bottom of the past low we made in October. It appears that passing this level is the gateway to 1280. It will be interesting to see if gold even bothers retesting 1220 again in the next few days, rather than ...

Perseus Perseus XCUUSD, D, Long ,
XCUUSD: Copper, another leg up?
2247 0 5
XCUUSD, D Long
Copper, another leg up?

Copper broke the range it was trapped in on Friday, and I've been long via IVN.TO for roughly a month now. I'll be buying any dips or retests of the previous range. As soon as we touch sub 4.50 for IVN i'll be buying. -Healthy RSI, MACD crossing up on the 1D.

Perseus Perseus XAUUSD, W, Long ,
XAUUSD: Gold long
4446 0 17
XAUUSD, W Long
Gold long

Re-longed gold on Friday, 1W and 1D both still look very healthy for bulls. Cross on 1W MACD, with the 5EMA looking to cross through the 50/100EMA. We saw a big bounce off 1220 on Friday which served as strong support and reassures me of my long position.

Perseus Perseus XAUUSD, D,
XAUUSD: Gold Direction
1267 8 14
XAUUSD, D
Gold Direction

As I posted in my prior idea, I sold my gold position this morning when the DXY started to rally. I am still long-term bull with gold, however it is clear to me that this move wants to retest the 1220 area as this was significant resistance over the past few weeks. There's currently a bearish engulfing on the 1D chart, and the MACD is looking to test a break back ...

Perseus Perseus XAUUSD, D, Long ,
XAUUSD: Gold looking to test 1250
880 0 9
XAUUSD, D Long
Gold looking to test 1250

Today we got further confirmation of a golden-cross with gold, and even though we had a slight hiccup intra-day spurred by a USD bond sale, we closed above 1240 and made new highs for this run. TNX is struggling to maintain above water, and it's RSI has been trending down since it's run up in November. We could potentially see a death cross as it's 5EMA makes ...

Perseus Perseus XAUUSD, D, Long ,
XAUUSD: DXY's Effects on Gold
885 1 7
XAUUSD, D Long
DXY's Effects on Gold

So it looks like we got a golden-cross on XAUUSD over the past few days, however the DXY did not give us the death-cross it was headed towards. XAUUSD is looking to bull, however today's strength in the DXY halted it's run through 1240. I will be paying close attention to the DXY / XAUUSD relationship over the next few days to see if XAUUSD can continue it's ...

Perseus Perseus XAUUSD, D, Long ,
XAUUSD: Golden cross on gold, death cross on DXY
1717 2 17
XAUUSD, D Long
Golden cross on gold, death cross on DXY

Last week was substantial for both gold and the DXY. Gold was able to close above it's 100EMA, and above the key psychological level of 1220, and DXY closed below the key psychological level of 100, and it's 100 EMA. This will prove to be bullish for gold, and bearish for the DXY. Looking at the 5 and 100EMA for both gold and DXY, we can see that gold's 5 is ...

Perseus Perseus XAUUSD, D, Long ,
XAUUSD: Gold - Cup and handle continued
1380 0 11
XAUUSD, D Long
Gold - Cup and handle continued

So it looks like my cup and handle idea played out well. We are making higher highs, and lower lows, which is very bullish for gold, yet we are having resistance at the 100 EMA. Once this is cleared, we should move up rather quickly. I believe with 99.99% certainty NFP will beat tomorrow, which will cause an initial drop in gold, but due to the fact that gold ...

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XAUUSD
GOLD / US DOLLAR
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DXY
ABD Dolar Endeksi
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XAUUSD
Gold / U.S. Dollar
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USOIL
Crude Oil (WTI)
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Silver/U.S. Dollar
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